You can use a personal loan for nearly any major expense, including paying off credit cards or consolidating debt, special events, major purchases, and unexpected home repairs or medical bills. We assume you'll use the money for the purpose you give on your loan request.
In addition, there are a few specific restrictions. You CAN’T use your loan for:
- Anything related to education after high school (including tuition, supplies, or room and board)
- Making investments (such as securities or cryptocurrency)
- Anything illegal (but we probably didn’t need to tell you that!)
We may cancel your loan if we determine that you intend to use any of your loan funds for any of these prohibited purposes. For more information, see your borrower agreement.